FIRE RESISTANT PAINT MARKET ANALYSIS

Fire Resistant Paint MarketSize and Trends

Market Outlook

Global fire resistant paints market size is projected to expand significantly and is expected to register a CAGR of 6.67% over the forecast period (2019-2027). Growing adoption of fire-resistant paints in industrial buildings is expected to drive growth of the market during the forecast period. Fire-resistant paints applied on wall, wooden surfaces and other materials and surfaces help to suppress the fire in case of any breakout. This is expected to boost market growth in the near future. Furthermore, an increasing number of fire accidents around the world has made fire-resistant paints a primary requirement. This is expected to increase the demand for fire-resistant paints and thereby support the market growth during the forecast period. Moreover, rising awareness regarding safety and health in urban areas is expected the major factor driving growth of the market in the near future. As there are no specific standards that have yet been established to determine the efficiency of products offered by manufacturers, there are plenty of opportunities in the global market.